doug kaune

Divorce and Asset Protection For Beneficiaries Cont.

September 21, 2009

We continue to receive inquiries from clients in search of ways to protect the assets they leave to their children and beneficiaries from divorce, law suits and creditors. Although clients protection from tax liability is of continued importance, asset protection in estate planning has grown in significance. Clients recognize that 50% or more of the …

Protect Assets Using Family Care Agreements

July 8, 2009

By Dave Frees

Family Care Agreements, also referred to as Caregiver Agreements, have increased in popularity as a result of the more stringent Deficit Reduction Act (DRA) Medicaid gifting rules. These agreements are usually established between an elderly individual who is agreeing to “pay” and the individual or individuals who is/are agreeing to provide continued care and assistance …

Reminder: Medicaid Asset Protection is Alive after the DRA

June 4, 2009

By Dave Frees

There is a great deal of misinformation about the viability of Medicaid and Nursing Home asset protection planning after the Deficit Reduction Act of 2005 (DRA). I want to remind clients, friends and advisors that there are an abundance of planning options available to single and married individuals who want to protect assets from spending …

Create Trusts For Children In Your Wills

May 19, 2009

By Douglas L. Kaune

I have had a recent addition to the family, my son, James Douglas Kaune. Welcome to our lives James!! Taking my own advice, my wife and I immediately updated our estate planning documents including wills, powers of attorney and trusts. We also modified our beneficiary designation forms in IRA’s, 401k’s and life insurance to name the testamentary trust for …

Key Medicaid Figures for Pennsylvania for 2009

May 1, 2009

By Douglas L. Kaune

The Key 2009 Pennsylvania Medicaid Numbers can be found by clicking this link. They include, Community Spouse Resource Allowance (CSRA), Monthly Maintenance Needs Allowance, Average monthly cost of nursing home care in PA, Estate Recovery, Home Equity Limit, Medicaid Transfers and Ineligibility for Gifts. These figures and requirements change annually. Review these important numbers …

Joint Accounts Can Have Unexpected Pitfalls

April 13, 2009

By Dave Frees

Joint bank accounts are often established by individuals with the hope of creating an account with one or more of the following benefits: probate avoidance, reduced inheritance taxes or as a convenient way to allow family member to write checks and pay bills. Unfortunately there are numerous Medicaid/Elder Law Planning, estate planning and asset protection …

IRA Trusts, Providing Extra Creditor and Asset Protection

March 31, 2009

By Douglas L. Kaune

IRA’s and other tax deferred retirement plans can now be left to trusts for your beneficiaries instead of directly to the beneficiaries. These IRA Trusts are broadly categorized as either conduit trusts or accumulation trusts. These trusts must be written with care in order to insure that not only are the assets protected from the …

How long does probate take?

February 25, 2009

By Douglas L. Kaune

The length of the probate process in Pennsylvania (PA) or other states varies greatly from estate to estate. The determining factors include the assets involved in the estate, the experience of the Executor/Administrator and counsel and the ease in dealing with the beneficiaries. Contrary to common belief, the process is rarely impacted by the actual …

What is probate?

February 18, 2009

By Dave Frees

Probate is the court oversight of the estate administration process after a person passes away. Only certain assets are considered probate in nature. Probate assets typically are those owned by the decedent in the decedent’s individual name without a beneficiary designated. The Executor, where there is a will, or Administrator, where there is no will, …

PA Inheritance Tax

January 30, 2009

By Douglas L. Kaune

The inheritance tax is a tax on the assets owned or controlled by a decedent at the time of his or her death and applies to assets individually owned, jointly owned and with beneficiaries designated. The tax does not apply to life insurance on the decedent’s life. It also applies to assets the decedent gifted …

We Listen.

Divorce and Asset Protection For Beneficiaries Cont.

Protect Assets Using Family Care Agreements

Reminder: Medicaid Asset Protection is Alive after the DRA

Create Trusts For Children In Your Wills

Key Medicaid Figures for Pennsylvania for 2009

Joint Accounts Can Have Unexpected Pitfalls

IRA Trusts, Providing Extra Creditor and Asset Protection

How long does probate take?

What is probate?

PA Inheritance Tax

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